Lions Gate now seeks consents to issue $200 million more 10¼% notes

By Susanna Moon

Chicago, May 10 - Lions Gate Entertainment Inc. said it amended the consent solicitation for its $236 million of outstanding 10¼% senior secured second-priority notes due 2016.

Lions Gate is now soliciting consents to amend the notes to allow it to issue up to $200 million, up from $150 million, of additional notes with the same terms except for the issue date, issue price and first interest payment, according to a company press release.

The company also is increasing the consent payment to $23.75 per $1,000 principal amount, instead of $20.00, for consents delivered by 5 p.m. ET on May 12.

The offer began on May 6.

Lions Gate previously said its obligation to accept and pay for consents delivered in the consent solicitation is subject to the receipt of the required consents and a financing condition.

Lions Gate is a Santa Monica, Calif.-based subsidiary of Lions Gate Entertainment Corp., which is a filmed entertainment studio with headquarters in Vancouver, B.C.

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